SEPA changes and ISO 20022 standards

ISO 20022 is the messaging standard used for SEPA payments and financial data exchange between banks and financial institutions.

The SEPA updates introduced changes to payment file requirements, including:

• BIC information
• Execution dates
• Postal address fields

These changes affect:

• SEPA Credit Transfer files
• SEPA Direct Debit files
• Multi-currency payment files

The requirements apply to businesses making payments to countries within the SEPA scheme.

Sage 50 Payroll Ireland requirements

Sage 50 Payroll Ireland includes the required updates to support the SEPA and ISO 20022 changes.

Company Details and Employee Details now require:

• Address Line 3
• Town

Completing these fields helps maintain compliance and supports successful bank file creation.

Validate payroll data

Use the Validate Payroll Data option to identify missing or incomplete information before creating payment files.

Stay informed

Visit the Sage Community Hub to stay updated and connect with other Sage 50 Payroll Ireland users.

• communityhub.sage.com